Natural gas and wind power make a strong showing for General Electric's first quarter earnings
RenewablesBiz // Apr 25, 2012In a Q1 2012 earnings call hosted by General Electric, the company discussed its wind and natural gas holdings. Both wind and natural gas have been the fastest-growing new generation sources over the past few years. RenewablesBiz reports:
“We had a strong renewables quarter. Revenues of $1.5 bn were up 30%. We shipped 611 wind turbines versus 366 last year, and that was about 200 more than we planned in the quarter,” [General Electric] CFO Keith Sherin said. “Thermal revenue of $1.8 bn was up 2%. So we shipped 35 gas turbines versus 32 last year.”